What a nice Orchestrated rise, Since days the positive news was blacked out & only negative news allowed. Can we imagine the coincidence that Reliance finds gas + L&T gets 311 crore order from Qatar + Gail signs MoU with Russian Company + Bhel bags contract from ONGC + Punj Lloyd gets Singapore company contract + Fuel prices hiked (for benefit of Oil companies to support the Index) + NTPC to invest 40 billion $ over next 5 years and some more companies having positive news all on the same day ??? So clear that the Orchestra was planned for today.
Break of 4803 on the downside will break the market till atleast 4448 and break of 5545 on upside will clearly indicate a firm bottom already made with a fresh rally & buy on decline signal. Sustaining above 5150 is essential for the present strength to remain. With the gaps (as mentioned before) present above I have a positive bias as they should be covered sooner or later.
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